Employer Assessment Rates to Drop July 1

Monday, June 4, 2018 | 0

The Ohio Bureau of Workers' Compensation has given final approval to new assessment rates for self-insured employers and to employer contributions to the marine industry fund.

In almost all categories, the rates have dropped, in keeping with a seven-year effort to reduce compensation costs for employers, bureau board members have said.

Employer contributions for the marine industry fund are for each $100 of payroll. Beginning July 1, the base rate for all marine categories will drop by as much as 25%, the bureau announced:

• Boat construction occupations will drop, from $4.90 to $3.68.
• Shipbuilding and repair will drop, from $9.37 to $7.03.
• Stevedoring crane operations will drop, from $12.29 to $9.22.
• Dock and harbor construction will decline, from $4.90 to $3.68.
• Iron and structural steel erection will drop, from $12.29 to $9.22.

For self-insured employers, the assessment rate for several funds will also change July 1. The assessment is determined by multiplying these rates by the employer's paid compensation for calendar year 2017:

• For the surplus fund, the rate will drop, from .0400 to .0100.
• For the self-insuring employer guaranty fund, the rate will drop, from .1060 to .1000.

The bureau also finalized rules affecting notification of meetings and other issues. The rules are published on the Register of Ohio's website.